Book your next event with Novotel Sydney Norwest and go shopping. 

When you hold a conference, business meeting or special event with us from May 2016 to August 2016, we’ll be pleased to reward you with a Myer Gift Card to the following value:

Talk to a member of our Meetings & Events team today to find out more about booking your next business or social event.

Phone: 02 9634 9661

Email: meetings@novotelnorwest.com.au

Terms and conditions apply

TAFE NSW - Western Sydney Institute is proud to be the principal partner of the Western Sydney Apprenticeship and Traineeship Expo 2016.

The expo will be held at the Penrith Panthers Exhibition Marquee, Mulgoa Road, Penrith on Tuesday 6 September 2016 from 3.00pm – 8.00pm. Entry is free to the public.

The expo will provide the perfect opportunity for students and job seekers to talk with over 100 potential employers and training providers.

Click here for further information.

Since 2010, consumers who enter into contracts with businesses have received the benefit of protection against unfair contract terms.

From 12 November 2016 that protection will be extended to protect small businesses as well, with the Small Business and Unfair Contract Terms Act 2015 (Cth) (Act) having now received royal assent.

This article provides an overview of the changes that are set to take effect later this year, and the steps that businesses should take sooner rather than later to make sure they are properly prepared.

What changes are introduced by the new legislation?

The Act amends two pieces of legislation which have provided consumers with protection against unfair contract terms for some time, being the:

1. Australian Securities and Investments Commission Act 2001 (Cth) for contracts relating to financial services or products (such as loan agreements, leases, hire-purchase agreements and debt factoring agreements)

2. Australian Consumer Law provision of the Competition and Consumer Act 2010 (Cth) for other contracts.

The Act extends the unfair contract terms protection in these Acts to standard form contracts that meet the following criteria:

• at the time the contract is made or renewed (whether renewed automatically or by negotiation), one or more of the parties to the contract is a business that employs fewer than 20 people (counting full time employees, part time employees and casual employees who work on a regular and systematic basis);

• the upfront price payable under the contract does not exceed:
  

• the contract is for:

In addition, a small business contract that is covered by an industry code prescribed under the Competition and Consumer Act, such as the Franchising Code, will also be subject to the unfair contract terms law. However, if a contract term is required or expressly permitted by the applicable code, the unfair contract term provisions will not apply to that particular term.

There are three key questions to consider in determining whether a standard contract term might be considered unfair under the Act.

What is a ‘standard form contract’?

This term is not defined in the Act.

A court or tribunal will make its own assessment about what constitutes a standard form contract. The factors that will be taken into account include:

• the bargaining power of the parties;

• whether the contract was pre-prepared or pro-forma;

• whether the contract was subject to negotiation or, alternatively, offered as a ‘take it or leave it’ contract; and

• whether the contract took into account specific characteristics of the parties or the transaction.

What is the ‘upfront price’ of a contract?

The ‘upfront price’ of a contract is the consideration payable for the product or service supplied, and disclosed at or before the contract is entered into.

The upfront price does not include any consideration that is contingent on the occurrence or non occurrence of a particular event (for example, early exit fees or break costs).

Payments that are not referable to the product or service supplied are not part of the upfront price payable.

If credit is provided under the contract, the upfront price should be calculated by including the principal amount and disregarding the interest payable under the contract.

What is an ‘unfair’ term?

There are no prescribed or defined unfair terms.

Legislation provides that for a contract term to be unfair, the term must:

• cause a significant imbalance in the parties’ rights and obligations;

• not be reasonably necessary to protect the legitimate interest of the party advantaged by the term; and

• cause financial or other detriment (such as delay) to a party if it were relied on.

The types of terms in standard form contracts which may be affected, and thus considered unfair, include:

• unilateral variation terms

• terms which require an amount to be repayable on demand;

• automatic rollover provisions;

• cross default provisions;

• broad indemnities;

• terms relating to the seizure of goods.

When will the changes take effect?

The changes will come into effect on 12 November 2016.

It is important to note that the new provisions will not apply to contracts that were entered into before this date. However:

• if a contract is renewed after the changes commence, the provisions will apply to the renewed contract; and

• if a contractual term is varied after the changes commence, the provisions will apply to the term as varied.

What will happen if a contract contains an unfair term?

If a contract term is deemed to be unfair, it will be void and therefore unenforceable.

However, the contract will continue to bind the parties if it can operate without the unfair term(s).

What should you do to prepare for the changes?

Although we are still in the early days of 2016 and it may seem that there is a long time to prepare for the changes before they take effect in November, it is likely that some (or many) standard form contracts will need to be amended. It is a good idea for all businesses to take the following steps sooner rather than later:

• Review your customer base and categories of customers to get an understanding of how frequently you enter into agreements with businesses that employ fewer than 20 people.

• Review your standard form B2B contracts (whether these are contracts with suppliers, customers or independent contractors) which might be used in transactions involving businesses that employ fewer than 20 people, to determine whether they contain terms that could be considered unfair.

• When reviewing your standard form B2B contracts, don’t forget to consider agreements that are already on foot but may be renewed or varied at a later date.

• Consider whether, and if so how, your standard form contracts might need to be amended before November 2016.

At St.George we are committed to helping manufacturers and wholesalers continue to help build Australia.

Since our foundation, we have helped manufacturers and wholesalers grow. Whether it’s through our strong understanding of the supply chain, sharing our knowledge of how to optimise working capital, or by providing specialist advice around foreign exchange and interest rate movements.

Local quality and service

Businesses and end customers are looking to Australian manufacturers and wholesalers for fast delivery of high quality goods that can be tailored to their needs. This requires our industry to stay at the forefront of innovation, workflow management, and expanding staff expertise.

At St.George, our focus is to help you grow and build wealth by connecting you with our network of specialists. Whether you are planning to expand around your core input or up or down the value chain, domestically or internationally, we have a range of banking products and services to release additional cash flow and combat against adverse market movements. We could also help you upgrade your equipment and facilities, become more energy efficient, and help prepare your business succession plan.

Connecting you with manufacturing and wholesale banking professionals

Working with business banking professionals who have a strong working knowledge of manufacturing and wholesale, could make the difference in the day-to-day running and future of your business. For more information, please contact Matthew Kelly, from our Manufacturing and Wholesale Banking team.

Matthew Kelly

M 0412 265 197

E kellyma@stgeorge.com.au

Things you should know: Credit criteria applies. Terms and conditions available on application. Please consider whether a product is suitable for you. St.George Bank a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. STG 01154 05/16

Matthews Folbigg Lawyers, a long time Platinum Partner of the WSBC, has re-committed itself to Making a Difference for its clients and staff, including with a new website and logo.

Jeff Brown, Chairman of Matthews Folbigg Lawyers, explained the change this way:

"The Principals of the firm have thought long and hard about the type of firm we are building together. We have spent a lot of time in discussion with our staff to get a handle on what it means to them to work at our firm. We have asked key stakeholders about their perceptions of us. The new logo is really just a symbol of the fresh thinking, both about the legal services market and us as key providers, that has come out of that process. I love the new logo, but I am even more proud of the core values we arrived at as a firm.

We Exist to Make a Difference. We do that in the following ways:

• We do not accept the obvious
• We employ, develop and harness talent
• We work harder
• We take it personally
• We collaborate as a whole to deliver the best outcome

We believe living these values out makes us different to our competitors."

Why not explore the difference for yourself at www.matthewsfolbigg.com.au

Get Involved & Drive The Western Sydney Economy

I am pleased to advise that WSBC is working in partnership with the Department of Industry on a Western Sydney procurement project as part of a steering committee of major stakeholders in Western Sydney seeking to harness procurement opportunities in the region.

We are reaching out for your assistance. 

Outlined below I have included a bit of background on the project and how the project will work towards sustainable procurement for the sustainability of local business. We want to encourage a higher percentage of company procurement funds to be spent in Western Sydney with local suppliers and in turn grow the Western Sydney economy.

The first part of the project is to create a directory of companies that procure products and services in excess of $5m with some detail on their procurement needs. This directory will then assist Western Sydney businesses when pitching for these goods/services. It will also increase awareness by large organisations of local SMEs and their capabilities, and ultimately create a Western Sydney supply chain where appropriate. (A similar project in the Hunter Region was extremely successful and we hope to better this in Western Sydney!).

WSBC and the Department of Industry would like to know if you are able to participate or if you could recommend companies based in Western Sydney that would complete a quick 10 min survey.

We will keep you informed of stage two in the process, which will include a series of procurement workshops and master classes.

The project will work on many levels and benefit both large organisations and SMEs. Ultimately your involvement will assist us in developing future programs to enhance the Western Sydney economy and future jobs growth.

I personally hope you are able to get involved and very much look forward to hearing from you.

If you have any questions then please do not hesitate to contact me.

Michael Sugg

CEO  I  WSBC

P: 8896 6045

E: msugg@wsbc.org.au 

The Australian Financial Security Authority (AFSA) has released its personal insolvency figures for the March quarter 2016. They show a fourth consecutive rise in personal insolvencies - the first time that there have been four consecutive rises in quarterly figures since 2009. Increased collections activity from the Australian Taxation Office and tough economic conditions have certainly had an impact on the rate of insolvencies nationwide.

At the same time the Federal Government has released a discussion paper recommending that there be a reduction in the current default bankruptcy period from 3 years to 1 year. The Federal Government's proposal paper suggests that reducing the duration of bankruptcy “…will encourage entrepreneurial endeavour and reduce associated stigma”.

Whilst it may be that making bankruptcy a less disruptive event for individuals will encourage entrepreneurship, it will also make prudent businesses more cautious in their dealings with customers and suppliers.

A key supplier entering into insolvency can have a disastrous impact on work flows, particularly when orders remain undelivered. The loss of a key customer due to insolvency has the obvious effect of reducing the market in the short term. Many businesses are unaware that it can also give rise to a lead to a “clawback” of payments made by the customer for as much as six months prior to their being made bankrupt.

The Insolvency and Restructuring team at Matthews Folbigg Lawyers are seeing an increasing number of businesses seeking assistance from us on the impact of bankruptcy, whether it is personal financial difficulties or the impact of a bankrupt customer or supplier.

Strengthening your terms of trade is a proactive step that can dramatically reduce the adverse consequences of a customer or supplier going broke. The effectiveness of any strategy to minimise the impact of insolvency is greater when advice is sought and change implemented early.

Will you run, ride or walk to give back to the community by supporting organisations making a difference to the lives of families in Western Sydney?

On its fourth year, the Coleman Greig Challenge is getting bigger and better and in 2016 My Westmead is set to be one of the beneficiaries of the challenge with funds raised to support newborn care. 

This challenge provides businesses with the opportunity to join fellow participants for a friendly competition, give back to the community, raise company profiles and promote fitness in the workplace, all this while having lots of fun!

My Westmead has joined St Gabriel’s School, which supports children with hearing impairment and intellectual disabilities, and the Royal Institute for Deaf and Blind Children (RIDBC) as the official beneficiaries of funds raised through the Coleman Greig Challenge being held at Parramatta Park on Friday, October 21st 2016.

With over 5,200 babies born at the Hospital annually, your support – via sponsorship or through the registration of participants – means our newest members of the community receive the best possible start to life.

You can find more information or register as a team or individually at 

Coleman Greig Challenge – Corporate for Community.

We are pleased to announce that we recently moved to a new office location on April 18 2016. Our new office is Level 9, 79 George St Parramatta NSW 2150, where we will continue to hold various training courses (business, community services, retail, manufacturing, logistics and warehousing), interview potential ARCies and meet our clients. This relocation is a result of continued business growth and an increase in staff. Our new premises are a short walk from the train station and local landmarks, retaining our commitment to the city of Parramatta and maintaining a central location on which to support our growing list of clients.

Our office number has remained the same – 1300 799 793.

Our new, larger office was professionally designed and constructed by Jeff Grimshaw and his team from CODA Commercial Interiors.

Should you have any questions on our relocation, please feel free to contact us. We look forward to seeing and serving you at our new spacious, light filled surroundings.

As China’s middle class continues to grow rapidly so does their taste for high quality, Australian made products. As a result, Sebel Furniture has returned some of our offshore manufacturing back to Western Sydney to support the increase in demand and export sales.

As China’s economy continues to grow, more of the country’s workers are earning a better income and joining the middle class. These working consumers are increasingly willing to pay a premium for higher quality, international brands like Sebel.

To capture the full potential of this attractive market segment, many Chinese companies are looking to differentiate themselves from local “copycat” products by selling Australian-made products such as Sebel’s hugely popular Postura Max chair. Designed and manufactured right here in Western Sydney, our Postura is loved by over 7.7 million people worldwide, and is now generating interest in the Chinese market due to its superior design and engineering. 

Sebel’s 60 year heritage and commitment to rigorous product research, design and testing qualities has resonated with the emerging and affluent Chinese middle class. Our Design Led Innovation approach has lead to breakthroughs in the way we work with educators and this has helped us secure our first shipment to China. As a result, we have since appointed the Chinese company Beijing Kangai Healthcare Furniture Co Ltd (Kangai) as our exclusive distributor for our education range of furniture for China. Kangai are planning to launch Sebel to the market in May 2016. Their marketing campaigns are directly aimed at the middle class and promote messages of quality, durability, health, safety and good posture.

This partnership is just one of our exciting future growth plans and we look forward to further partnerships that will increase our export sales and dealer channels worldwide.

For more information on Sebel products, please visit www.sebelfurniture.com